Tax advise for high earner w2 couple.

[Jinesh Patel]

Hello,

Me and my wife both work fulltime on w2. we are planning to start investing in the real-estate this year. I am not sure how I can take advantage  of the rental losses here. As I went to one of the tax classes and they told that we have to be working more hours in the rental property than our w2 job.

I am not sure what will be the best course of action will be here.

Any help appreciated.

Jinesh

[Michael Plaks]

Quote from @Jinesh Patel:

Any help appreciated.

Short answer: no immediate tax savings from regular rentals as long as both of you have regular W2 jobs.

You invest to create passive cash flow and grow your wealth through appreciation of your properties, but not for immediate tax savings.